JW Shinyak said on Nov. 24 that it acquired an exclusive license from Johnson & Johnson for distribution of the foam-based hair regrowth product Rogaine in Korea.

The formulation of minoxidil is the first topical hair-growth treatment approved by the US Food and Drug Administration for both men and women. “The biggest advantage of Rogaine is that it can eliminate the inconvenience caused by liquids and gels,” an official at JW Shinyak said.

With the deal, JW Shinyak has strengthened its product lineup for anti-hair loss drugs which was limited to oral dosage forms like propecia, sold under the brand name Monad and Neodart (dutasteride).

“We will step up our presence in the hair loss treatment market through synergies with existing products,” he said.

According to research firm Nielsen Korea, about 10 million people in Korea suffer from hair loss while the market for treatments was 4 trillion won (US$3.68 billion) in 2016.